Funding Booms in Q1 with New Clients Funded Up 30% for Bibby
Financial Services North America

April 23, 2018 08:45 AM Eastern Daylight Time

ATLANTA--(BUSINESS WIRE)--Bibby
Financial Services North America (BFS) provided funding during Q1
2018 to 91 new clients in the U.S. and Canada. BFS saw a 30% growth in
the number of clients funded in Q1 2018 compared to Q1 2017, with nearly
$23M in total funding facilities providing business growth over the
previous year. BFS provides working capital to businesses of diverse
sizes across various industries. The company supports small- to
medium-sized businesses (SMBs) by distributing alternative financing
that can grow in line with businesses. In Q1 2018, the company provided
financial solutions ranging from $100K transportation finance facilities
to $4M manufacturing facilities. BFS has the capacity to provide up to a
$10M funding facility through its factoring
and
asset based lending product offerings.

“Serving companies across North America, Bibby Financial Services
customizes funding products to the unique needs of each business we work
with,” said Ian Watson, CEO of BFS North America. “Our success and
growth across industries are anchored in building effective
relationships with our clients and the personalized approach we take to
understanding the needs of our clients during every stage of their
business.”

Noteworthy financial solutions:

United States

$4M factoring facility for a bike manufacturer in California

$1.5M AR facility to a Michigan commercial oil and energy services
company

$500K factoring facility for the U.S. division of an IT staffing firm

$150K AR facility to a transportation services provider in Florida

Canada

$5M CAD AR facility to an IT systems manufacturer based in Ontario

$500K CAD factoring facility to an Ontario cabinetry manufacturer

$300K CAD AR facility for a transportation carrier based in Alberta
and Ontario

Bibby Financial Services is a leading independent financial services
partner to more than 10,250 businesses, providing more than $1.25
billion in funding annually and handling $11.6 billion in annual client
turnover. With over 40 operations in 14 countries spanning 3 continents,
we provide asset-based lending and factoring solutions to help
businesses grow in domestic and international markets. Established in
2001, Bibby Financial Services supports businesses in virtually any
industry. BFS is part of Bibby Line Group, a diverse and forward-looking
family business with over 200 years’ experience of providing personal,
responsive and flexible customer solutions. To find out more about Bibby
USA and Bibby Canada, please visit
www.bibbyusa.com or
www.bibbycanada.ca.